Pages

(+) You must always be careful when trading with binary options brokers, some of them that look to be legit and even are regulated have turned out to be nothing more than boiler rooms and bucket shops.(+) When first dealing with ANY binary options broker first deposit a SMALL minimum deposit for trading.(+) Never take ANY bonuses! After making profits from first trade ask for an immediate withdrawal.(+) If you are called on the phone and asked to make any LARGER deposits ALWAYS say NO.(+) After making a successful withdrawal of first profitable trade + deposit amount you can start to trust the broker.

So you've learned about binary options trading and are ready to make money, now it's time to choose a binary options broker that's right for you.

But not so fast. Choosing a binary options broker is easier said than done, and in the end it can mean the difference between your trades making money and losing money.

So don't just sign up with the first broker you come across, consider the following key points when deciding on your next binary options broker.

Regulation

When trading binary options, choosing a broker who is licensed and regulated by a financial agency is vital. The specific regulatory agency overseeing a broker is dependent on the brokers location.

For example, binary options brokers in the US are governed by the Financial Industry Regulatory Authority (FINRA) and licensed by the CFTC, while brokers based in Cyprus are regulated by the Cyprus Securities and Exchange Commission (CySEC.)

Trading with a broker who is not regulated opens yourself up to unnecessary risks. Unregulated brokers can get away with shady activities, including:

• Price manipulation

• Denying withdrawal requests

• Stealing or selling personal information

Platforms

Is there a specific binary platform you're already familiar with? Not every platform is equal, some are clean and simple, others are complex and bulky. Every trader will eventually have their own personal preference. Open a free demo account with a broker you're thinking of trading with to see if their platform is right for you.

Instruments and Returns

Are there certain trading instruments you want to trade? Currency pairs are common with every broker, but what about stocks, indices and commodities? More instruments is not exactly better, but you definitely want a broker who offers diversity.

The return payouts on successful trades is another critical factor to consider. Obviously you want the highest payout returns, but you don't want to sacrifice quality of service for the potential to make more money. The industry average tends to range in the 75% area for High/Low options, so look for a broker who offers payouts that are equal or higher to improve your ROI potential.

Read Reviews

This is one of the most important steps in determining your next binary options broker. Reviews from other traders can tell you things about a broker you wouldn't have otherwise known. If numerous traders complain of not receiving their withdrawal request, then stay away.

If traders are complaining about price manipulation, do your due diligence. You're bound to come across both positive and negative reviews, but is a trader making a negative review because they sincerely had problems, or are they just mad that they lost money?

Keep these key factors in mind when choosing your next binary options broker for the best experience.